Pension Question

farquarpigmix

Basically at age 55 with single life, no guarantee and not index-linked, you would only be looking at a rate of around 4.56%. Age 60 this is 5% and age 65 it's 5.8%.

I will cash that at 55 then. :T

Thank you for all the replys & helpful advice & links. :beer:

jem16

farquarpigmix wrote: »

I will cash that at 55 then. :T

You can't cash it - you can take benefits from it. So you are looking at £2500 tax free lump sum and around £342pa.

farquarpigmix

jem16 wrote: »

You can't cash it - you can take benefits from it. So you are looking at £2500 tax free lump sum and around £342pa.

Thats what I meant "take benefits from it"

But rather than deal with the people its with I can shop around for the best deal?

jem16

farquarpigmix wrote: »

But rather than deal with the people its with I can shop around for the best deal?

Yes you don't have to accept the offer from Friends Life. You can get an IFA to shop around using the open market option.